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Financing a car under my name affecting OSAP

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Hey all,

Anyone know whether having a car financed under my name would affect the amount of OSAP loans I would be getting? I called and all I could get was "I am not sure about that" from the financial aid department of McMaster. Anyone have had any experience with this?

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On ‎6‎/‎29‎/‎2018 at 7:03 PM, robclem21 said:

A car is no longer considered an "asset" by OSAP (as it used to be), so no, it will not affect the amount of loans/grants you qualify for.

and thank goodness for that - they used to have a stupid system where the value of the leased car count against you and in that case you didn't even own the car ha, and ignored any loan taken to actually get the car.

 

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